Barclays to price phoenix autocallable notes on Dow, Russell, S&P

By Sarah Lizee

Olympia, Wash., July 17 – Barclays Bank plc plans to price phoenix autocallable notes due July 25, 2023 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of 6.15% if each index closes at or above its 65% coupon barrier on a related observation date.

The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly call observation date after one year.

The payout at maturity will be par unless any index finishes below 55% of its initial value, in which case investors will be fully exposed to the decline of the least performing index.

Barclays is the agent.

The notes will price on July 20.

The Cusip number is 06747QAZ0.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.